China's pharmaceutical conglomerate Sino Biopharmaceutical Limited, or Sino
Biopharm, announced on Thursday the acquisition of Nasdaq-listed United Kingdom based biotech F-star Therapeutics, marking a latest move in Sino Biopharm's on-going global growth.

Approved by regulatory agencies including the Committee on Foreign Investment in the United States, the acquisition was completed with $161 million in cash, the Hong Kong-listed company claimed.

Theresa Tse, chairwoman of Sino Biopharm, said that through F- star's world-leading platform, Sino Biopharm hopes to develop more innovative drugs with good efficacy and high accessibility as soon as possible, to benefit cancer patients in China and around the world.

She also said that leveraging on Sino Biopharm's innovative medicine development and commercialization platforms, the company will continue to actively cooperate with multinational pharmaceutical companies and overseas biotech enterprises, with an open, equal and mutually beneficial attitude, to better meet unfulfilled clinical needs.